Berkshire's Winnersh Film Studios goes into administration following US actors strikes
Winnersh Film Studios has gone into administration following cashflow problems linked to writers and actors strikes in the US.
The Reading-based studios have been a popular location for Hollywood blockbusters.
The new Ghostbusters: Frozen Empire was partly filmed there as well as George Clooney's The Boys in the Boat.
Consultancy firm Interpath Advisory announced it had been appointed as administrator of Winnersh Film Studios Limited and its parent company Stage 50.
Interpath Advisory said the companies will continue to run as normal for now, and lenders say they are committed to keeping Winnersh Film Studios running.
Winnersh Film Studios, located at the Winnersh Triangle business park, already has two sound stages, and plans for a third have been approved by Wokingham Borough Council.
It is not yet known if plans to expand the studios will be affected, or if operations will be scaled back.
The administrator said last year's writers and actors strike in the US had a knock-on effect and caused cashflow problems. This led an investment fund from finance firm SCIO Capital – the senior secured lender to the studios – to bring in administrators.
Greg Branch from SCIO Capital said the investment firm wants to stabilise the business so that it can move forward.
He said, “We remain fully committed to Stage 50’s model and vision of creating high-quality, innovative spaces for television and film makers.”
Interpath Advisory said other parts of the Stage 50 group are not in administration and continue to trade as normal.
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